231 E 111th St
New York, NY 10029

Newmark has been retained on an exclusive basis to arrange for the sale of 231 East 111th Street, New York, NY 10029. The 9,751 ± SF elevator building is located on the north side of East 111th Street between Second and Third Avenues in the East Harlem neighborhood of Manhattan.
231 East 111th Street is a recently renovated, 100% free market multifamily asset. The offering consists of 12 residential apartments across 6 stories and is 100% occupied. The unit mix is comprised of 11 one-bedroom apartments and one penthouse two-bedroom apartment with private roof deck. These favorable residential layouts along with the fair market status of the units offer stable in-place cash flow with the opportunity to create significant value renting out the remaining unit and capturing upside upon turnover.
The apartment units feature modern upgrades, including marble bathrooms, in-unit washers and dryers, and kitchens with granite countertops and dishwashers. Gut renovated in 2014, the property is in excellent physical condition with little to no deferred maintenance, but still allows future ownership the optionality to modernize further.
Located in the heart of East Harlem, 231 East 111th Street offers a prime location in one of Manhattan’s most culturally rich neighborhoods. This property is just two blocks from the 6 train, providing convenient access to the rest of the city. Residents enjoy proximity to local dining, cultural institutions, and the vibrant community life that makes East Harlem unique. Additionally, the asset is positioned in proximity to both Central Park and Thomas Jefferson Park offering ample access to the nearby green spaces.